8. Shawcor Ltd.
Toronto
281/886.2350
CEO: Mike Reeves
2022 Coatings Sales: Approx. $592 million USD
Shawcor Ltd. is a global company serving various sectors of the infrastructure, energy, and transportation markets through three reporting segments: Pipeline and Pipe Services, Composite Systems, and Automotive and Industrial. The company operates through a global network of fixed and mobile manufacturing and service facilities The company’s Pipeline Performance Group provides field-applied coating systems, factory-applied coating systems, and logistics solutions. The division provides specialized coating systems and related services for corrosion protection, insulation, and weight coating applications on land, and marine pipeline, including highly engineered corrosion and insulation systems for deep-water applications.
In 2022, the company reported total revenue of $1.255 billion Canadian dollars, of which approximately $801 million Canadian dollars was reported as revenue from the sale of products and approximately $453 million Canadian dollars from the sale of services. Coatings sales are reported based on the company’s reported sale of products for 2022.
Notes: In 2022, Shawcor was awarded two large pipe coating contracts. In August, the Pipeline Performance Group received a formal contract valued at approximately C$500 million from Transportadora de Gas Natural de la Huasteca, S. de R.L. de C.V. (“TGNH”), the Mexican subsidiary of TC Energy Corporation, to supply pipe coating services on the Southeast Gateway Pipeline project, an off-shore natural gas pipeline in southeast Mexico. In December, the company received project agreements that, in aggregate, are valued over $200 million and include a letter of intent from Saipem for a deep-water development project in South America and two binding letters of intent and two purchase orders the provision of insulation coating services on four Brazilian offshore projects.
Source: Consolidated financial statements, press releases
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